Hon. Aaron Aruna Koroma Cautions Against Inflation And Unfair Deductions by Mobile Network Operators
Salamatu Y. Kamara Deputy Opposition Leader Two, Hon. Aaron Aruna Koroma, has questioned the reasoning behind taxes that are contributing to inflation and economic difficulties in Sierra Leone.
Hon. Koroma raised these concerns during the twentieth plenary sitting on Thursday 16th November, 2023, when the tenth report of the Committee on Appointments and Public Service was adopted, confirming the new Bank Governor and other presidential nominees.
Hon. Koroma starts by speaking about the state of the country’s economy, including inflation, interest rates, and unfair deductions on mobile money transactions by Mobile Network Operators (MNOs), adding that these deductions can surpass the taxes derived from established financial institutions, leading to a loss of taxes for the government.
He continued by suggesting that taxes set and obtained from mobile companies should be determined by the Bank Governor and the government of Sierra Leone, rather than the National Communications Authority.
Hon. Koroma also questioned the constant difficulties businesses, especially small and medium-sized enterprises, have in obtaining access to finance, which is another revenue-generating avenue. He informed that loans often come with additional costs that, when compiled, can surpass the agreed-upon interest rates.
He lamented the state of bad roads in the country, including the one leading to the President’s home in Bonthe district, and encouraged the empowerment of young people regardless of political ideologies.